The Shrewsbury conveyancing firm handling our Shrewsbury conveyancing has uncovered an inconsistency when comparing the assumptions in the valuation report and what is in the legal papers for the property. My solicitor informs me that he must ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Can your site be used to find a Conveyancing solicitor in Shrewsbury even if I’m not purchasing or selling a house, for instance if I wish to buy an office in Shrewsbury with a mortgage from Barclays ?
Our comparison service is predominantly utilised to find domestic conveyancing solicitors in Shrewsbury but we have recorded at the bottom of this page a few Shrewsbury commercial conveyancing firms. You should speak with the firm directly to check if they can also act for Barclays
My stepmother advised me that in purchasing a property in Shrewsbury there could be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Shrewsbury which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Shrewsbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Shrewsbury solicitors on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Principality approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
It is unclear whether my mortgage offer requires a lease extension. I have called my Shrewsbury building society branch on various occasions and was advised it wasn't a problem and they will lend. My Shrewsbury conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their published requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
The deeds to our home can not be found. The lawyers who dealt with the conveyancing in Shrewsbury 5 years ago no longer exist. What are my next steps?
Assuming you have a registered title the information relating to your ownership will be retained by HMLR with a Title Number. It is possible to execute a search at the Land Registry, find your property and order up to date copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
How does conveyancing in Shrewsbury differ for newly converted properties?
Most buyers of new build premises in Shrewsbury approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Shrewsbury usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Shrewsbury or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Shrewsbury is where the house is located. What do you suggest?
Flying freeholds in Shrewsbury are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shrewsbury you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shrewsbury may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.